PENG (NASDAQ:PENG) Trading Up 1.4% – What’s Next?

PENG (NASDAQ:PENG) was up 1.4% during mid-day trading on Thursday . The stock traded as high as $17.55 and last traded at $17.19. Approximately 76,679 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,046,611 shares. The stock had previously closed at $16.95.

Analysts Set New Price Targets

Several analysts have issued reports on PENG shares. Citizens Jmp raised shares of PENG to a “strong-buy” rating in a research note on Monday, November 18th. JMP Securities started coverage on shares of PENG in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price target for the company. Barclays decreased their price target on shares of PENG from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Stifel Nicolaus decreased their price target on shares of PENG from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Finally, Needham & Company LLC decreased their price target on shares of PENG from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $23.60.

PENG Stock Up 1.4 %

The company has a market capitalization of $940.57 million, a P/E ratio of -17.65 and a beta of 1.70. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.19 and a current ratio of 2.65.

PENG (NASDAQ:PENG) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). PENG had a positive return on equity of 8.05% and a negative net margin of 4.48%. The business had revenue of $311.15 million during the quarter, compared to the consensus estimate of $325.00 million. On average, analysts forecast that PENG will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph Gates Clark sold 2,264 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $17.50, for a total transaction of $39,620.00. Following the sale, the insider now directly owns 95,999 shares of the company’s stock, valued at $1,679,982.50. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

PENG Company Profile

SMART Global Holdings, Inc, a memory-focused company, engages in the designing and development of enterprise solutions in the United States, China, Europe, and internationally. It operates through Memory Solutions, Intelligent Platform Solutions, and LED Solutions segments. The company offers dynamic random access memory modules, solid-state and flash storage, and other advanced memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.